A couple of days ago, a young student approached me and asked me for some career advice. The student wanted to understand a little more about what banking and finance is about, and how it measures up in terms of their “dream job“. I was very impressed with this young student, because unlike many of their peers, they were actually trying to look at their future and start planning. This student, to be fair, is part of an advanced group of students. They get tutoring as part of their regular school day, they have additional instruction in note-taking and other study skills, and they are in advanced Math and English classes. They have a leg up over many students already. This young person seemed to have a leg up on even this group.

There was another teacher in the room at the time, who had worked in a similar field in her younger years, and we both shared some of the upsides and downsides, many of the really funny incidents, and some of the sad, sobering, almost depressing parts of our former jobs. See, no job is truly perfect. There are some good parts and bad parts, and much of adult life is about learning to deal with the bad parts while preparing for, waiting for, and whenever possible working to create the good parts.

And while just that much would have been a good enough lesson, that isn’t the main point of this post.

If you have been doing your job as a parent or concerned party of a young person, there is likely to be a point where they will ask you about career advice themselves. How you respond, what you say and how you say it, and your timing are crucial.

Once a young person asks your advice about future careers, they are putting the trust of their future in your hands!

So how do you respond?

“Follow your bliss!”

Some parents think this is great advice. They want their children to be happy in whatever they do. I’m not going to say that this approach doesn’t have any merit because I know that all parents want their children to be happy. Hell! I’m not even a parent, and I want other people’s children to be happy in their career. Happy people generally don’t make as many mistakes, and tend to do their jobs much better overall than their less happy peers. If that’s all it takes to be able to go to Taco Bell and not get my order screwed up or just ugly, then follow that bliss.

But there is a slight downside. For many kids, their bliss is playing video games or taking obnoxious pictures of themselves for Facebook. True, with a little creativity and some luck, you can make a career out of either of those, but neither has that ring of career aspirations that would make a parent proud.

“Follow the family!”

Okay, if “the family” is really The Family, I’m staying out of this argument altogether! But assuming that we’re talking about parents like my mom, who truly believe that following in the family business or doing the same job as your parents is a good thing, there’s a lot to be said for this method too. There is nothing wrong with upholding the traditions of your family, taking advantage of the skills and training from what may be generations of people who have done a job with love and with pride. I kind of like to believe that I’m in my family’s business as a teacher because my grandfather was a teacher in his home country. I get that I’m probably stretching a bit, but it makes me feel good.

But what if, like me with my mom, the family business just isn’t a good fit? Even if I went into my mom’s business of nursing and caring for the sick, that isn’t me either. One of my brothers works construction. He has three daughters that all together probably don’t have the upper body strength required to do what he does, plus it isn’t a very feminine job, and his daughters are very feminine girls. Should they, and I, have taken a job that we don’t enjoy? Even if it means that we will suck at it and embarrass the very people we were trying to please by doing the job in the first place?

“What’s important to you?”

The way I approached my student was to ask what was important to them. What are they looking for in a career? We also talked about what skills they felt they might want to strengthen. As we talked, I was able to throw a few different ideas their way, and as what they said changed, I was able to change my suggestions to fit their evolving priorities. Keeping in mind that this student is very young, and their priorities will change several times between now and when they become an adult, it was more important to get them to think in terms of what they want out of a job than it was to try to stuff them in a hole that might become a bad fit later on.

Is there a downside to this? Sure, I guess that the student might have felt a little unfulfilled when they came to a trusted advisor with the hopes of getting a concrete suggestion. I guess that walking away from a conversation where you hope to get answers with nothing but more questions can be annoying. I’m okay with that because this student needs the opportunity to decide things about themselves before they are going to be ready to plop down for a career that might last them the rest of their lives.

I don’t know why, but as I was having my conversation with my student, I kept thinking that someday they’d be alright. Of course, one of my favorite songs about someday is this one, and while it is a sad song, and possibly a little depressing, I’ve always enjoyed it and I hope you do too. Enjoy!

Let me start by apologizing for this being a longer post. I’ll try to keep it short, but I am covering like 30 years of history, so I beg a little grace from my awesome readers!

When I was young, from a very early age, I knew I wanted to be a teacher. I knew I was GOING TO BE A TEACHER. This might come as a bit of a surprise to many of the teachers when I was in school, but I knew that someday I would be among them as a peer, and not as a student. Because I liked to read, was good at writing, spelling, and grammar, I was sure I would be an English teacher. Like I said, my teachers didn’t have as much faith in my ability to become a teacher as I did, but more interestingly, my parents would frequently throw out alternatives to try and tempt me away from following my dreams. My dad was an X-ray technician who transitioned into being one of the very early MRI technicians when the technology was just becoming available. My mom would encourage me to follow in his footsteps, regardless of how loudly or excitedly I would protest that I wanted to forge my own path. I guess old habits are hard to break, because it was only in the last 4 or so years, when it was obvious that I was actually, no-kidding around, for reals, becoming a teacher, that she stopped with her brand of “encouragement”.

When I left high school, I was a little disillusioned about higher education or the prospect of being a teacher. I figured it would happen, but I was young and I wanted to take a little time to enjoy being outside of a classroom before I committed myself to being inside one again for the rest of my life. So I went into the exciting world of finance. I took a brief (15 or so year) sabbatical from my childhood dream, and I kind of dug it for a while, until I didn’t. Then I went back to school and was convinced that I was going to be a teacher again.

A strange thing happened during those 15 years. I got to enjoy other subjects. I was into economics of course, but tied in with that was government and history. I still say that each of those three have to be taught in tandem in order to be taught correctly. Currently our school system teaches one at a time, and almost in a vacuum, which has a chilling effect on the interest levels of students. But that’s another argument for another time. I decided that I didn’t really want to teach English after all. I decided that I was going to teach economics.

Over the past three years, I’ve had some very interesting teaching assignments. I’ve been able to teach incarcerated youth; I’ve taught in regular schools; I’ve even taught at some alternative schools that would break most peoples’ hearts (mine included). I’ve taught every subject, including subjects that I wasn’t able to pass when I was in school. I wound up avoiding those classes in favor of teaching subjects that I was good at.

Except one.

Never in my own academic career was I good certain subjects. I sucked at Woodshop, a fact that those who know me well understand. But worse than my ineptitude with carpentry was my absolute idiocy when it came to math. I could not do math. It was my worst subject ever. People used to ask me when I was in banking how I could do that job and still be bad at math. Luckily, there is this thing on top of most desks, called a computer, that does the math for me. Once, by pure luck, I was assigned to teach a math class at a school. Apparently, I did something right, because teachers at that school and others in the district have been passing my name around as a great math teacher because of the way I teach. It has gotten to the point where many people in the district think that I actually am a math teacher, and not a history, economics, government, or whatever teacher like my credential says. So I’ve made the decision to do what I need to do to actually become a math teacher.

I told my story because I hear from people every day who tell me that they are in situations that they never thought they would be in. They had a view of what their lives would be like when they grew up that wound up not matching reality.

I also see people with their noses stuck in books written by some very intelligent financial advice sales people. They make all their decisions based on what they believe this writer or that TV personality would suggest. They do all this to the exclusion of everything else that is going on in their lives. For some, it works as they hoped. For others, like those who try fad diets, fad financial advice is a round trip proposition. You get yourself into the position you planned on getting yourself into, only to relax back into your old habits. This leads to you getting into a deeper hole than the one you started in.

The answer is to be open to different paths while still keeping your eye on your overarching goal.

Is your goal to be able to send your kids to a college you couldn’t afford for yourself?

How about to be able to retire and live out your remaining years in a bungalow in Disney World?

Maybe your goal is as simple as being able to pay off your credit card and possibly taking your kids to Disneyland during spring break. It is important to have a plan, but when something comes around that messes with that plan, you have to be able to reevaluate your plan from the new point of reference instead of the original, where you started.

Whatever your goal is, life will sometimes get in your way. Sometimes your own decisions will get in your way, and sometimes the decisions of others will be responsible. Whether or not you make your goals depends in large part on how you react, on what decisions you make, and on your own ability to assess and deal with changes as they come up.

Whenever I think of my life, and all the twists and turns it has taken over the years, I think of a river. Whenever I think of a river, I think of this song. Because the original is somewhat sad and this is a weekend, I’ve also included a more up-beat version that always makes me laugh. Enjoy!

I used to hear stuff like this all the time when I was in banking and dealing with so-called “adults“. To be honest, it was mostly the younger adults, but not always. Now that I’m out of the business of dealing with adults, I hear a lot of complaints from kids that sound eerily familiar and worry me about the future.

“I got yelled at because I had my phone out during a test. I was just checking the time!”

“He gave me Friday Detention because I didn’t turn in my homework on Tuesday.”

“Stupid Principal, called my parents because I didn’t go to school yesterday, now I’m in trouble at home too.”

What are all these people really saying? Really, they are expressing their own disappointment in their jobs or in their performance at school. The adults know, however deep-down, that their setbacks are not the fault of the other person. They know that their own behavior led to the situations about which they are reacting. It just feels better to bitch about who wronged you were. They know that there are probably reasons why one person will get a promotion over another. Sometimes these decisions are unfair, but most of the time they are justified. They know that bosses have a lot on their plates, and sometimes don’t have the ability to see everything they should. They know that part of their bosses’ responsibilities might be to make sure that they are doing the job they are paid to do. They know that they are held accountable to be at work on time every time.

My kids at school are at a precipice. I want to believe that they also know that they can’t blame Teacher X or Principal Y for their own misfortune. I want to believe that they really understand that they chose to violate the dress code. I want to believe that they know that they can’t pull out their cells during a test without opening themselves up to the possibility of being accused of cheating. I hope they understand that there are consequences for actions, and in the case of not doing homework, for inaction. I want to believe that they understand that cutting class is a big deal, and parents get a little pissed about these kinds of things.

But should I?

It wasn’t until fairly recently that I put it together in my head that the parents of the kids that complain about the world being against them are the same people who are complaining about how the world is against them! This is a learned behavior.

So how do we fight back?

It starts with me: If you are a parent, or like me, a teacher, or any other kind of role model, you need to let it start with you. We all have bad days at work, bad months even. We need to be honest with ourselves to recognize that sometimes stuff just happens. Sometimes we contribute to the problem by our reactions, and sometimes we create the problems. We need to act and react in a proper way so that those watching us with little eyes can learn the correct way to handle adversity.

Take control early: All of the above statements share one thing. They are all statements of reaction. Too often, we get busy, or bogged down in day-to-day details to think about proactively attacking situation. If my boss isn’t prone to notice the contributions I make to the company, maybe I should take some time to point out, in a respectful way, how valuable I am to the company before I get frustrated.

Be your best you: I get that it can become tough and monotonous to come in to work every day and give your absolute best. That’s what vacations are for. That’s what time off (weekends or just time between shifts) is for. I’m sorry, and I know full well how hard it is for me as well, but you have to be the best you possible whenever you go to work. Not just because your boss will like it, not because it is your job to do your best, but because doing so can motivate others around you to up their game as well.

These are just three of hundreds of things that you can do to deal with many of the setbacks that seem to creep up when least expected and least wanted. I’m sure there are more ideas, and I look forward to hearing what your ideas might be.

Of course we don’t just try to shift blame when it comes to work. Dylan wrote this song, but I firmly believe Mr. Cash did it best. Enjoy!

This is Anthony Miranda. He’s what many in the financial industry would call a dumbass. Actually, he’s what many in any industry would call a dumbass. You can click on his name to read the story, but here’s the gist: Anthony is a bully. He was a bully with a gun. Until he tried to mug a martial artist who didn’t feel like being a victim.

This is a video of a couple of kids where the smaller is a bully. It’s a short video, but the smaller kid appears to punch the larger kid a couple times before the larger kid has enough and slams the smaller kid to the ground. He then walks away.

This is NOT a call for violence!

These stories have been creeping up through the news lately, and while I personally abhor violence, there is a large part of me that thinks this is a good thing.

The other day, the school had a lockdown drill to practice the correct procedure if someone were to sneak on campus with the intent to hurt children. While we were in lockdown, one of the students started getting really afraid. She didn’t know what she would do if someone tried to hurt her (and before you start making fun of her, she was like, 11 years old. How would 11-year-old You react in that situation, hmm?). Some of the other students were a little cockier than others, and started bragging about how they would do whatever to anybody who came near them.

I got a little heated and told the kids that their goal was to get away from any situation where physical violence was a possibility and run for an adult they could trust. I shut down the bravado about how tough some of these kids were, pointing out that people with big mouths generally did more harm to themselves than good. Then the conversation drifted towards bullies.

Where I work, much like many schools across the country, there is a zero-tolerance policy with bullies. I’m okay with that. Where I have a problem is the advice that is too often given to the victims of bullying.

When you call self-defense “bullying back”, you are creating more victims!

I have a huge problem with the last half of that list because bullying is such a serious invasion of one’s person. We can’t teach our young ones to allow bullies to continue without being stopped.

How can you teach your young ones to deal with bullies?

1. There are certain limits to what other people are allowed to do to them. There is never a reason to allow someone to push or hit them. Also let them know that some adults have different “permissions” than others do. A doctor might be allowed to look at or touch places that other adults shouldn’t. Another kid who is close friends might be okay to wrestle with, but probably not an assistant coach from Penn State while in the shower. Use your judgment.

2. It is okay to say ‘no’ when anybody crosses one of your lines. It’s not okay for someone to hit your child and then try to intimidate them into not saying something about it to you or another adult.

3. Violence is never the answer. Except that sometimes there is no other alternative. Teach them to avoid violence whenever possible, but also explain the circumstances under which you are okay with them defending themselves physically, and develop a plan so that your child knows what to do and when to stop.

4. Invest in a good self-defense program. These don’t have to be expensive. Usually, there is some sort of program available through the YMCA or parks and recreation systems. If you can swing it, look into a private self-defense school. Just make sure you watch class and make sure the instructor understands and shares the values you have when it comes to your children. You don’t want to create a bully by teaching your kid how to deal with bullies.

How does this help anybody financially?

When kids are taught to put their heads down and cower from bullies, they often learn to cower from everybody. A particularly aggressive salesman can frequently bully people into making purchases that they don’t want or need. People who don’t know how to stand up for themselves will rarely even ask for a discount, especially when one is clearly warranted because they are afraid of a possible bully.

When a young person is taught to deal with bullies at a young age, they frequently also learn how to be more discerning and how to avoid making purchases or expenditures that they don’t want to make.

When most people hear this song, they focus on the part about not being weak and turning the other cheek. If at all possible, it is good to avoid especially physical confrontation. I personally stick around to hear the part about sometimes having to stand and fight when you’re a man. Enjoy!

Way back in July of 2007, I talked about the Quality of LOYALTY. At the time, I talked about it from the standpoint of a young employee working at one of their earlier jobs. I talked about the importance of staying loyal to those who employ you and of not being disloyal just because you think you might be getting a better opportunity. Over the next few years, in the classroom, I’ve been able to experience what many kids call loyalty.

What I’ve found surprised me perhaps more than it should have given the reason kids are in school in the first place:

They have no clue!

When I deal with my incarcerated students, many of them have the most screwed up vision of loyalty. In their head, loyalty means you never say anything bad about your hommie, no matter what. Period. End of sentence. Ever. In fact, in their world, one never “rats out” a hommie. If a friend is choking to death on a substance that they weren’t supposed to ever have been in contact with, loyalty dictates that one will never report the situation to someone who could help. Similarly, if a friend is going to commit a crime against someone else, even someone who is completely innocent, loyalty dictates that the friend commits the crime regardless of any other issues. For these students, the code of loyalty can be summed up best in three words:

Snitches get stitches.

While this sounds like a great premise for a Dr. Seuss book, this kind of warped view of loyalty has the very real-world possible consequence of death or some other permanent condition. One that isn’t nearly as funny as a book about the scar-bellied snitch from Dr. Seuss.

I’ve also seen in regular districts where young people believe they are at war with adults. Or where Hispanic kids believe they are at war with Caucasian kids, Black kids with Asians, or any other, arbitrary grouping.

For example, this week, I had a student call me a name in Spanish that basically included a vulgarity and an adjective that described my being overweight. There were three students in a group, and as they all walked away from my classroom, one of them made the offensive remark. When I asked which one made the comment, surprisingly, none of them even heard the comment or knew what that comment even meant in Spanish. None of them was going to be disloyal to his friends.

I had another student in the same class that committed to writing, some more, even more offensive insults about me. This student at least had the decency to wait until they believed I was gone from the school and therefore out of range to have heard the comment. The student denied writing the comments up till the writing of the comment was compared with a previous writing sample. Of course, other students in the class had seen the student writing the comment, but none of them were going to step forward.

I worry about the future when I see students and young people with such a misunderstanding of real loyalty. I wonder where they get these ideas.

Joe Paterno, formerly of Penn State Football, after receiving reports that one of his friends and former assistant coaches had forcibly sodomized a 10 year-old child, did not go to the police as would have been the right thing to do. Instead, Coach Paterno called the athletic director and might have involved the school administration.

To be fair, this has rather less to do with loyalty, and much more to do with immortality. Coach Paterno was working on half a century of being an institution at Penn State and throughout Pennsylvania. He was a hero to many, and while I believe his decision to not be more active to stop his rapist former assistant coach, there is a small part of me that understands staying out-of-the-way and keeping my head down when I’m trying to accomplish something.

Very serious crimes such as robbery and rape are being committed in many of the Occupado protests. Many of them are going unreported to the authority because the victims and other protesters feel that they are being loyal to their cause and the supporters of the protests.

Their rationale is simple. If they report a crime, then the police will have to come in and do something about it. If the police do that, the protest is over. In a way, the victims feel that they are making some sort of noble sacrifice for what they consider a greater good. I believe they are sadly, and seriously misguided young people who were led astray by the adults in their lives for years.

So if this isn’t loyalty, what is?

You recognize that this isn’t loyalty. You recognize that true loyalty is more about helping others to be successful at all the right things. You know that loyalty sometimes means you have to “snitch” on a friend to keep that friend from screwing their lives up further. You know that loyalty, true and real loyalty, sometimes means telling someone something they don’t want to hear.

As an adult, and as a parent, you are probably feeling frustrated because you know that these news stories are no longer the outliers. This stuff is happening every day, across the country. People that we should teach our children to look up to, are becoming with increasing frequency, people that we should shield our children from.

2. Call out B.S. demonstrations of false “loyalty” when you see them. When your kids come to you with some story about not wanting to get a friend in trouble, ask them if their friend will be willing to take the punishment for your kid’s misbehavior if it comes to it. Spoiler alert, they aren’t!

3. Separate your kids from the kids who push for false loyalty. This is a simple one. If your kid has a “friend” who ever says something as stupid as the snitches gets stitches thing, you need to distance your kid from them. First, as we’ve already said, they aren’t really friends, but second, these people are heading towards something dangerous.

I have been unable to verify this story with links to anywhere, but when I was young my dad was big into country music. His favorite artist was George Jones. My dad told me a story about how Jones had either hidden or destroyed all the shoes of his wife at the time Tammy Wynette. I’ve heard that he took the heels of all the shoes or that he took the shoes altogether. Either way, Wynette’s standing by her man definitely smacks of inappropriate “loyalty”. Enjoy.

Question: The Lion King is hosting an animal conference where all the animals attend, except one. Which one doesn’t attend?

Question: There is a river you must cross, but it is used by crocodiles. You have no boat. How do you get across?

Now, I’ve heard this as a really dumb, bad joke, and also as an ice-breaker for training. I’ve used these questions when hiring employees, but not necessarily in the way they are intended. Most people get most of these questions wrong, but we’ll get to that part later on.

The other day, as I was doing dishes, I noticed that the floor was really wet in front of the sink. After initially thinking F4Y: The Wife spilled water all over the floor (which she didn’t), I looked under the sink and noticed the cabinet floor was also soaked. To be fair, the sink wasn’t leaking profusely, but there was a steady drip when I would run water. There are words that grown-ups use when they are frustrated, and then there are words that the immature or the uncreative use. I used all of those words and I made up a few new words. I had some problems.

1. I needed to call a plumber to fix my sink.

2. I needed to talk to my landlord because technically fixing this problem is his problem.

3. I still had a sink full of dishes that needed to be washed.

4. I hated my house because there is always something wrong.

5. I didn’t want to talk to my landlord because I knew he’d say something that might make me explode and move out (which would be really stupid considering how long we’ve been there, how reasonable the rent really is, and how the house has some good things going for it like a really large yard for entertaining).

The teacher in me wanted to look at this as I would any other word problem, but I couldn’t see how being able to figure out the markup on a sweater or how to calculate the area of a trapezoid would be helpful here.

The dude in me wanted to set the place on fire and blame a faulty wire, but then I’d have a whole new set of problems, including finding a new place to live and paying alimony on a teacher’s salary because I destroyed my wife’s sofa.

The Personal Finance guy in me decided on fixing the most important problem that I had the power to fix right then. My problem was that water was dripping on my floor. This was something I could change immediately. I took an aluminum pan and put it under the pipe that was leaking so I could finish the dishes without doing further damage to the floor.

So stupid it’s simple.

So simple it’s stupid.

Too often, I read stories about readers who are just drowning in problems dealing with their finances. My heart breaks for them. I try to give the help and advice that I can, and I know my friends in the PF world do the same. But sometimes, and I’m guilty of this too, we tend to over-think the solution or lose focus on the real problem. In fact, I bet many of you reading this initially thought that I should call my landlord first. Great advice, but it wouldn’t have solved anything immediately. I still had a sink full of dishes that needed to be done, and I still had a pipe that was dripping on my floor. Some people might have suggested calling the plumber first. That still wouldn’t have solved my most immediate problem immediately.

So when you read stories, or hear from your friends or family members, and they ask you for some advice, remind them to stick to the most important problem that they can solve at that time, and put off dealing with problems that you can’t solve, or problems that the solutions won’t solve your problem.

Back to our animal friends:

I’m going to give you the answers and the reasoning behind each. Again, this sounds trite and a little silly, but if you actually listen to the rationale, and try to put it in practice with other questions, you’ll find that many problems wind up being much simpler to solve than you initially thought.

Answer One: You open the door, put the giraffe in, and close the door.

This question tests to see if you do simple tasks in a complicated way.

Answer Two: You open the door, take the giraffe out, put the elephant in, and close the door.

You probably said, “Open the door, put the elephant in, and close the door.” Sounds good, but you have to deal with the giraffe in the last question. This question checks to see whether you are able to think through the consequences of previous actions.

Answer Three: The elephant. You put him in the refrigerator earlier, remember?

This question tests your memory.

Answer Four: You jump in the river and swim across; perfectly safe because the crocodiles are at the Lion King’s meeting.

This question tests to see if you learn from earlier mistakes. You over-thought the other questions already; hopefully you figured it out by the last questions.

When talking about elephants, there is only one song that fits in the refrigerator. Enjoy!

Last week, I was called in to teach a group of kids that are more difficult to teach than most. Many have already graduated from school, but are still forced to go because of their age. Many will never see the outside world as free men or women. Very few of them care about school at all. In short, they have nothing to lose by missing school, and not much to gain by going. The teacher that I was replacing had given a stock lesson in writing a specific kind of poetry.

That’s an actual example (near as I can remember from reading it) of what the students turned in. I can see why the other teacher didn’t want to deal with this class anymore.

When I found out that I was teaching this class, I knew I had to do something that would catch their interest, but that would still be educational and appropriate for them. I worked for most of the day and evening to come up with a kick-ass lesson that would be entertaining and educational. I had hundreds of pages to print out so that the kids could actually complete the assignment. Not wanting to waste my personal printer ink, I saved everything to DROPBOX so that I could print it out at work the next morning (by the way, if you don’t already have a Dropbox account, and you ever save any kind of file, you need one. Click on the link and you’ll get extra space when you sign up for an account. In fairness, I’ll also get a little free space, but I’d use the service regardless).

When I got to work, I learned that for some reason, my district’s internet security policy blocks Dropbox access. No worries, I could use my phone and print remotely to a printer. No dice there either, since the printers wouldn’t accept a connection to print from my phone. I was getting a little worried, since I realized that I was well and truly screwed.

By the time I got to class, I had about two minutes to think of something, or face the very real possibility of a minor riot on my watch. Luckily, I try to have a backup plan for whenever my first two (or three, but whatever) ideas crap out. I learned this by virtue of being caught many times with no plan, and having to pay the consequences. To make a long story end, my backup worked, possibly better than my original plan would have, and I was told by the sheriffs’ staff that I was one of the best teachers to have dealt with these kids.

I told you that for a couple of reasons. Number one, I was really impressed with myself and I wanted to brag a little. Number two, and more importantly, I did it because the lesson I learned and demonstrated has real-world application when it comes to personal finance.

Everybody tells you to keep a small, liquid fund to use in case of an emergency. Most people will say six months worth of expenses should cover you. But what happens if your emergency keeps you away from the bank or safe-deposit box, or wherever you keep it for a few days? What do you do then? One quick way you can protect yourself is by also keeping a small (very, very small) stash of cash within easy access. When I say small, which is the operative word here, I mean just enough to help you survive for a weekend or a few days until you can access your emergency fund if needed.

While we’re talking about emergency funds, what happens when you have exhausted your emergency fund completely? In today’s economy, being out of work more than six months is more the norm than the exception. If the worst ever happens, and you have exhausted your emergency fund, you will still need money. I suggest planning ahead. While you are building your emergency fund, you are putting some money towards it every pay-period. Let’s assume that an emergency doesn’t happen right away. Transfer one month of your emergency fund into something a little longer in term, with a higher interest rate. Keep making your contributions till you have replenished it. As you do this, you are building a bubble for when you run out of emergency “cushion”. If you have a problem with saving, you are also building a painless nest-egg for the future.

At work, you like your job, but what happens if you were the last hired, and your company needs to lay someone off (hint: In most cases, you are screwed). While you are working, in addition to saving your emergency fund, as we’ve discussed above, start building skill sets that will help you to be able to find a job sooner. This may mean formal schooling, or this may mean polishing your resume’ so that your skills and abilities are properly showcased.

At home, stock up on non-perishable foods and water in case of a natural disaster. With the summer we just had, with earthquakes in the east, hurricanes in the south, and floods everywhere, stores are running out of basic supplies. Those people who are prepared, are able to “weather the storm”. But what if something happens to your stored food? Maybe this is a good time for you and your community or your family to work out a plan where everybody contributes for a larger group to survive.

Look, I’m not trying to scare you, but shit happens. Sometimes, you are prepared and you bring your umbrella. Sometimes, your umbrella breaks as soon as you open it. When this happens, you will be glad when you put a change of clothes in a bag for just such a situation. Are you going to be prepared for everything? Not even close, and I don’t recommend that you even try. Sometimes, even the best prepared still lose in the end. I can’t stop that, but you can limit your exposure to losing by having a few backup plans ready should they be needed.

I believe it was Robert Burns who said:

“The best laid schemes of Mice and Men

Oft go awry

And leave us nothing but grief and pain,

For promised joy!”

Given my students, and the lesson I just re-learned and related, I can think of no better message than to be prepared. Enjoy!